Volume 14, Issue 3

Independent Central Banks and the Interplay between Monetary and Fiscal Policy

Athanasios Orphanides

Optimal Monetary Policy and Fiscal Policy Interaction in a Non-Ricardian Economy

Massimiliano Rigon and Francesco Zanetti

Welfare Effects of Tax Policy in Open Economies: Stabilization and Cooperation

Jinill Kim and Sunghyun Kim

Pitfalls of Coordination?

Sergey Slobodyan

Sovereign Default and Monetary Policy Tradeoffs

Huixin Bi, Eric M. Leeper and Campbell Leith

Should the ECB Coordinate EMU Fiscal Policies

Tatiana Kirsanova, Celsa Machado and Ana Paula Ribeiro

Tracking Monetary-Fiscal Interactions across Time and Space

Michal Franta, Jan Libich and Petr Stehlík

Monetary and Fiscal Policy Interactions and the Labor Market

Frank Smets

Labor Tax Reforms, Cross-Country Coordination, and the Monetary Policy Stance in the Euro Area: A Structural Model-Based Approach

Pascal Jacquinot, Matija Lozej and Massimiliano Pisani

Fiscal Consolidation in a Low-Inflation Environment: Pay Cuts versus Lost Jobs

Guilherme Bandeira, Evi Pappa, Rana Sajedi and Eugenia Vella

Opening remarks

Jiří Rusnok

Introduction